Embodiments of systems and methods for generating virtual account-linked cards are described. A virtual account-linked card may be generated in response to a determination that a physical account-linked card has been forgotten at a card reader and ingested by the card reader. A virtual account-linked card may be restricted such that it can only be used to execute a transaction with authorized transaction partners identified in a database.
Legal claims defining the scope of protection, as filed with the USPTO.
1. A system comprising: a card reader configured to read an account-linked card having account-linking information; a server including a processor; and a storage medium containing a database which stores data for an account associated with the account-linked card, the data including information for account-linked cards and virtual cards associated with the account; wherein the card reader is configured to determine whether the account-linked card has been forgotten and in response to a determination that the account-linked card has been forgotten, send a signal to the server indicating that the account-linked card has been forgotten; and the server is configured, in response to receiving the signal indicating that the account-linked card has been forgotten, to: disable the account-linked card, generate a new virtual card having the account-linking information by editing the data in the database, generate, in the database, partner identifying information which identifies a set of authorized transaction partners, wherein each authorized transaction partner has engaged in a transaction with the account within a predetermined time period, and limit the use of the virtual card to transactions involving an authorized transaction partner.
2. The system of claim 1 , wherein the partner identifying information is generated based on a transaction history associated with the account.
3. The system of claim 1 , wherein the set of authorized transaction partners comprises transaction partners which have engaged in two or more transactions with the account.
4. The system of claim 1 , wherein the set of authorized transaction partners comprises transaction partners which have engaged in a transaction with the account having a value greater than a predetermined dollar value.
5. The system of claim 1 , wherein the partner identifying information is generated based on a frequency and a value of transactions executed with one or more transaction partners.
6. The system of claim 1 , wherein the server is further configured, in response to receiving the signal indicating that the account-linked card has been forgotten, to send an alert to one of a mobile phone and a computer.
7. The system of claim 1 , wherein the server is further configured, in response to a receiving the signal indicating that the account-linked card has been forgotten, to send a request for creation of a second account-linked card via the network.
8. The system of claim 1 , wherein upon disabling of the account-linked card, the account-linked card cannot be used to execute a transaction.
9. A method comprising: reading an account-linked card having account-linking information at a card reader; determining whether the account-linked card has been forgotten and in response to a determination that the account-linked card has been forgotten, ingesting the account-linked card in the card reader; sending a signal to a server via a network indicating that the account-linked card has been forgotten; flagging the account-linked card as unauthorized in a database located on a storage medium, where the database stores data for an account associated with the account-linked card; generating a virtual card in the database having the account-linking information; generating partner identifying information which identifies a set of authorized transaction partners, wherein each authorized transaction partner has engaged in a transaction with the account within a predetermined time period; storing the partner identifying information in the database; and limiting the use of the virtual card to transactions involving an authorized transaction partner.
10. The method of claim 9 , wherein the partner identifying information is generated based on data associated with the account and stored in the database.
11. The method of claim 9 , wherein the set of authorized transaction partners comprises at least one authorized transaction partner for which there exists two or more transactions in a transaction history for the account, wherein values of the two or more transactions are within a predetermined value range.
12. The method of claim 9 , wherein the set of authorized transaction partners comprises at least one authorized transaction partner for which a card-not-present transaction exists in a transaction history for the account, wherein the card-not-present transaction occurred within a predetermined time period.
13. The method of claim 9 , wherein the partner identifying information is generated based on a frequency of transactions executed with one or more transaction partners, wherein values of the transactions executed with the one or more transaction partners are within a predetermined value range.
14. A server comprising: a processor; wherein the server is configured to: receive a notification from a card reader identifying a lost account-linked card having account-linking information and which is associated with an account; in response to receipt of the notification, create a flag in a database contained in a storage medium which stores data for the account, wherein the flag identifies the account-linked card as unauthorized; in response to receipt of the notification, generate a virtual card having the account-linking information in the database, wherein the virtual card is authorized to be used to access the account; in response to receipt of the notification, generate partner identifying information which identifies a set of authorized transaction partners, wherein each authorized transaction partner has engaged in a transaction with the account within a predetermined time period; and limit the use of the virtual card to transactions involving an authorized transaction partner.
15. The server of claim 14 , wherein the server is further configured to generate the set of authorized transaction partners based on a frequency of transactions with the account and a type of transaction with the account, wherein the type of transaction includes a card-present transaction and a card-not-present transaction.
16. The server of claim 14 , wherein the server is further configured, in response to receipt of the notification, to send an alert to one of a mobile phone and a computer, the notification containing information about the virtual card.
Cooperative Patent Classification codes for this invention. Click any code to explore related patents in that topic.
April 25, 2019
December 1, 2020
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